INVENTORY COSTING METHODS. Jackson Company had 200 units in beginning inventory at a cost of $24 each.
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INVENTORY COSTING METHODS. Jackson Company had 200 units in beginning inventory at a cost of $24 each. Jackson’s 19x6 purchases were:
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Prepare income statements through gross margin using the FIFO, LIFO, weighted average, and specific identification methods. For the specific identification method, assume the ending inventory is 20% from beginning inventory, 60% from the February 21 purchase, and 20% from the September 30 purchase.
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